Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
July 25, 2014
Tokyo, Japan, July 25, 2014 --- Hitachi, Ltd. (TSE: 6501) today announced that, to strengthen its power distribution systems business, it has reached an agreement with Maschinenfabrik Reinhausen GmbH (MR) of Germany, one of the world's leading manufacturers of on-load tap changers, a key component of transformers, to take a stake in a new subsidiary being established to handle maintenance, repair, and replacement of on-load tap changers in Japan.
Through this collaboration with MR and its new subsidiary, Hitachi aims to strengthen its electric power distribution systems business by establishing the service infrastructure to handle the maintenance, repair, and replacement of transformer on-load tap changers and associated components, and to support work by Japanese power companies and others aimed at reducing maintenance workloads by upgrading to vacuum interrupt-type on-load tap changers.
Details | |
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Name | Reinhausen Solutions Corporation |
Headquarters | 1-18-2 Hakusan, Midori-ku, Yokohama (at MR's Japan office) |
Date of Formation | September 1, 2014 |
Capital | 60 million yen (MR: 65%, Hitachi: 35%) |
Management | Yet to be appointed (manager to be appointed from MR) |
Employees | 5 (initial staffing) |
Main business activities |
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Planned sales | 300 million yen approx. (FY2015) |
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2013 (ended March 31, 2014) totaled 9,616 billion yen ($93.4 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional materials & components, automotive systems, healthcare and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.